March 27, 2023 – DPVR, a Shanghai-based manufacturer of virtual reality (VR) headsets, has recently announced that it has raised more than CNY ¥100 million (approximately USD $14.54 million) in a newly completed round of financing. The round was led by Qingdao Microelectronics Innovation Capital, with additional investments from Qingdao Wen Investment Capital, among other institutions.
According to DPVR, this latest funding round will enable the company to invest more in its core technology and product development, as well as allow DPVR to expand its global presence, with a newly established office in Qingdao, China, acting as the center of the company’s operations.
DPVR provides a full-stack VR technology and product offering, with the company stating that it has kept pace with various hardware and software developments relevant to the metaverse industry. With a focus primarily on VR solutions, DPVR has been able to achieve rapid updates and iterations to its core technology, which has helped to drive continued product innovation, according to the company.
“For more than seven years, DPVR has been committed to creating value for our customers. The XR landscape is constantly evolving and we have had to remain agile as a company in order to meet the demands of an ever-changing market,” said Chen Chaoyang, CEO of DPVR. “Operating within this space is sometimes more of a marathon than a sprint, and this latest funding enables us to maintain our focus on our long-term growth strategy. We are excited to continue sharing our passion for VR with our customers around the world by creating even better VR products.”
DPVR recently announced its newest VR product with the launch of its E4 headset, which boasts several features that the company anticipates will make it more preferable to gamers and VR enthusiasts. The E4 device includes a 4K resolution SHARP display with a refresh rate of 120Hz, for a smoother and more immersive experience for gamers. The headset has a flip-up design that allows users to switch between virtual and real-world environments seamlessly, and is also lightweight, weighing only 280g. Additionally, the E4 comes with DPVR’s proprietary ‘Eagle Eye’ position tracking system.
In the enterprise market, DPVR’s P-series all-in-one VR devices are widely used in the medical, education, and training fields by many customers in China, as well as overseas, according to the company.
For more information on DPVR and its virtual reality solutions, please visit the company’s website.
Image credit: DPVR
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past five years.